Sell DVC Question

[shoeie]

Looking for some community advice.

I have a medium sized DVC Boardwalk Villas timeshare that I'd like to sell. As many of you know, DVC is one of the few timeshares that retains significant value. But essentially, like anything, price the item right, and it will sell.

Thus, I don't want to use the services of a real estate broker. I know what its worth, and I don't feel like paying them 10% commission.

Essentially, I'm looking for recommendations on reputable escrow and title companies that have experience in dealing with timeshares.

Thanks!

(Mods-I've placed the same query in the Buying/Selling/Renting thread. If improper to place it in both threads, please accept my advance apologies.)

 

[DeniseM]

I use LT Transfers:

L.T. Transfers
Lisa Short and Mary Pless
http://www.lttransfers.com/
readylegal@gmail.com
706.219.2709

 

[Dean]

I use LT Transfers:

L.T. Transfers
Lisa Short and Mary Pless
http://www.lttransfers.com/
readylegal@gmail.com
706.219.2709

I concur. I'd list on TUG in the classifieds and on redweeks. Realistically you're likely get more this way but not the full 10% savings as you'd likely get a higher price through a broker, esp non Fidelity. The savings on closing likely won't help you much unless you're paying for it anyway.

 

[vacationhopeful]

I feel, anyone who is buying will be happier .... more trusting ... of a broker verses an individual. Esp if prices are over $5,000...7500+. LT will HOLD a cashiers check for the buyer til transfer is finished .. but a newbie buyer might not agree to anything less than full escrow.

That said ... I would say TRY getting an agreement to use LT Transfer .. if not good enough, have buyer pay all the escrow fees.

Those DVC points will sell. BWV are very desirable location and short walk to Disney World gate access.

PS My advice is not considering or recommending a "BWV" DVC per point price. I own at another resort.

 

[DeniseM]

With an expensive timeshare, I would discuss it with 3 reputable brokers, before I decided to sell it myself. Yes, there is a commission, but they may be able to get more, they may be able to sell it quicker, and it would be easier.

 

[littlestar]

8.5 percent is what most brokers are charging now. The Timeshare Store just lowered their commission to match the others.

 

[nomoretslt]

I agree with Linda above. As a buyer, I would want the added protection of a broker....they usually work with DVC to make sure that once a contract is signed and agreed to, the owner won't decide to take another vacation before closing. It's happened....not to me, but to some others. Especially when a large amount of money is involved. And you still have to contact DVC member services to obtain the needed forms from them for their Right of First Refusal. Seems like there is no rhyme or reason for the contracts they decided to "take".

Small contracts (50 pts. and below) at desirable resorts have been snatched up immediately by buyers.....usually at full asking price. And prices seem to have risen quite a bit since early May. I just saw a 200 pt BWV contract listed at $114/pt. The same type contract was available in early May for $90/pt. Some brokers prices are lower, but not sure what their percentage of contracts taken thru ROFR is. We recently sold a small contract thru a broker...their commission was 8.5%. It sold within a couple of hours for $30/point MORE than what we paid for it in 2011. I personally don't have the stomach to deal with people directly with this type of thing and although I wasn't happy to pay the commission, it was better for us. Plus they handled all of the paperwork, including dealing with DVC with the ROFR stuff.

I'm sure the title transfer companies that TUG members use are quite competent and can handle the closing. Good luck to you....depending on how long ago you purchased, you can make a tidy profit.....on top of which you've been able to enjoy your membership.

 

[smmatrix]

Last year I purchased a $21,000 DVC contract and know I would have been comfortable doing this ONLY with a broker. Even if I found the same contract 10% cheaper direct by seller, I would have bypass and went with a deal from a reputable broker... anyday! Therefore, I doubt you will get the price you're seeking and won't save anything selling direct.

 

[Bailey#1]

Use a broker that deals a lot with DVC listings. It's worth the 8.5 commission. Right now its a sellers market for DVC, so I wouldn't wait to long!

 

[dannybaker]

I vote for no Broker and save 10 percent. if I could save 10 percent and buy a DVC I would do it.

 

[chalee94]

I vote for no Broker and save 10 percent. if I could save 10 percent and buy a DVC I would do it.

That's kinda the thing, though.

If the buyer buys from an individual who offers them a 10% "savings", they still have to pass ROFR or they may lose the contract. So this is unlikely to be the case as a buyer for DVC, unless Disney drops out of the ROFR game for a while.

And if the seller skips the broker and charges the going rate, the buyer gets none of the protections of a broker.

I have owned DVC for over a decade. If I decided to buy another contract, I would use a broker rather than risk dealing with an uninformed or dishonest seller. DVC is just not a good fit for FSBO.

 

[mj2vacation]

We have sold many of our contracts and have always used a broker. I have a real estate license and know the product inside and out and it is just not worth it.

It does not hurt to try to negotiate the commission.

 

[Dean]

There's no reason not to for some situations. It really boils down to whether you can make enough to be worth fooling with. If I were selling a high demand option like a small contract or VGF/VGC, I'd definitely give it a try. I'd also do it this way if selling to someone I knew. Some brokers will list as a non exclusive situation which means you can give it a try both ways and take whichever comes up first that meets the goals.